Segall Bryant & Hamill LLC Sells 583,409 Shares of Gildan Activewear Inc. (NYSE:GIL)

Segall Bryant & Hamill LLC cut its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 57.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,886 shares of the textile maker’s stock after selling 583,409 shares during the period. Segall Bryant & Hamill LLC’s holdings in Gildan Activewear were worth $20,299,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Fortis Group Advisors LLC increased its position in shares of Gildan Activewear by 3.9% during the third quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock valued at $311,000 after acquiring an additional 246 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Gildan Activewear by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after purchasing an additional 274 shares during the period. Aristides Capital LLC boosted its holdings in shares of Gildan Activewear by 4.3% in the 2nd quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock worth $289,000 after buying an additional 314 shares during the last quarter. CWM LLC boosted its holdings in shares of Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after buying an additional 318 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GIL. Royal Bank of Canada boosted their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. TD Securities boosted their target price on Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup increased their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price objective on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average price target of $50.85.

Gildan Activewear Stock Performance

NYSE GIL opened at $49.01 on Thursday. The stock has a market capitalization of $7.55 billion, a PE ratio of 19.37, a P/E/G ratio of 1.81 and a beta of 1.44. Gildan Activewear Inc. has a 1 year low of $30.68 and a 1 year high of $50.58. The company’s 50 day simple moving average is $47.49 and its two-hundred day simple moving average is $42.13. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The firm had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. During the same quarter last year, the firm posted $0.74 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Analysts predict that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s payout ratio is currently 32.41%.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.